Earn your money the right way: no quick buck, get paid only for honest, hard work



Get-rich quick schemes drawing the interest of those who want to make a quick buck but really, there is no substitute in getting paid for honest, hard work

AS a Penangite, I am always asked by my colleagues and friends in the Klang Valley why is it that most get-rich-quick schemes are located in the island state and the investors mostly its citizens.

I have asked that same question myself, since I’ve heard enough stories of relatives and friends who have been entangled in this web of financial crookery.

It’s not something new. It used to be called the pyramid scheme and Ponzi but, like most, it is just another scam. The new term is ‘money game’ and it’s probably called this to warn new participants that there will be winners and losers, like in any other game.

However, no one is listening because most people are merely interested in the quick returns from their investments.

There are some reasons why Penang lang (Hokkein for people) have warmed up to these quick-rich con jobs.

Penang is a predominantly Chinese state and rightly or wrongly, the appetite for risk there is higher. Some may dismiss risk as a euphemism for gambling, but the bottom line is, many of its denizens are prepared to roll the dice.

Given that there are so few police reports lodged against operators, despite the huge number of investors, indicates the readiness of these players to try their luck.

They clearly are aware of the element of risk involved when they lay their money down, but the huge returns override any rational thinking. No risk, no gain, they probably tell themselves.

Making police reports against operators also runs the risk of “investors” getting their money stuck if the accounts of the scammers are frozen.

Risk-taking is nothing new to many Penangites. This is a state with a horse-racing course and plenty of gaming outlets. Is it any surprise then that a spat is currently playing out between politicians over allegations that illegal gaming outlets are thriving there?

One politician believes the state government does not have the authority to issue gambling licences and “to single out Penang also ignores the fact that gambling is under the Federal Government’s jurisdiction. We don’t issue such licences.”

It’s bizarre because no one issues permits to illegal gaming outlets. That’s why they are called illegal.

But there are some fundamental sociological explanations to this fixation on earning extra money in the northern state.

The cost of living has gone up there … and everywhere, too. For the urban middle class, it is a monthly struggle managing the wages – after the deductions – settling the housing and car loans, and accounting for household items such as food, petrol, utility and tuition for the children.

The cost of living in Penang may be lower than that in the Klang Valley, but it is not cheap either. Any local will tell you that the portion of char koay teow has shrunk, although the price remains the same.

But unlike the Klang Valley, where career development and opportunities are greater, the same cannot be said of the island state.

Many of us who were born and brought up in Penang, moved to Kuala Lumpur because we were aware of the shortage of employment opportunities there.

We readily sacrificed so much, moving away from our parents and friends, relinquishing the relaxed way of life and the good food for a “harder” life in the Klang Valley. We paid the price for wanting a better life.

Job advancement means better salaries, but in Penang, where employers have a smaller base, they are unable to match the kind of pay packages offered in KL.

So, an extra few hundred ringgit from such investments does make a lot of difference to the average wage earner.

It is not unusual for many in the federal capital to take a second job to ensure they can balance their finances.

I don’t think many Penangites expect to be millionaires, at least not that quickly, although JJPTR has become a household acronym since hitting the market in the last two years. As most Malaysians by now know, it stands for JJ Poor-to-Rich, the name resonating well with middle class families.

Its founder, Johnson Lee, with his squeaky clean, boyish looks, assured over 400,000 people of his 20% monthly pay-outs and even more incredibly, convinced many that billions of ringgit vanished due to a hacking job.

Then came Richway Global Venture, Change Your Life (CYL) and BTC I-system, among others. And almost like clockwork, Penang has now earned the dubious reputation of being the base for get-rich-quick schemes.

Having written this article while in Penang, I found out this issue continues to be the hottest topic in town, despite the recent crackdowns by the authorities.

My colleague Tan Sin Chow recently reported in the northern edition of The Star that “money games are on the minds of many Penangites.”

On chat groups with friends and former schoolmates, it has certainly remained very much alive.

Tan wrote: “Another friend, Robert, had a jolt when, a doctor he knew, told patients to put their money into such a scheme. A doctor!

“From the cleaners at his office to the hawkers and professionals he met, everyone, it seems, was convinced. None questioned how the high returns could come to fruition in such a short time.”

We can be sure that these get-rich-quick scheme operators will lie low for a while, but the racket will surface again, in a different form and under a different name.

There is no substitute for honest, hard work. Money doesn’t fall from the sky, after all.

BY Wong Chun Wai The Star

Wong Chun Wai began his career as a journalist in Penang, and has served The Star for over 27 years in various capacities and roles. He is now the group’s managing director/chief executive officer and formerly the group chief editor.

On The Beat made its debut on Feb 23 1997 and Chun Wai has penned the column weekly without a break, except for the occasional press holiday when the paper was not published. In May 2011, a compilation of selected articles of On The Beat was published as a book and launched in conjunction with his 50th birthday. Chun Wai also comments on current issues in The Star.

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‘Future richest man’ nabbed: greed not paying for Zhang


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Facing action: Zhang being taken into custody by police after arriving in China.

 

Zhang arrested in Indonesia and escorted back to China

PETALING JAYA: Self-proclaimed “future richest man in the world” Zhang Jian was arrested in Indonesia and escorted back to China where he will face legal action.

Zhang, whose real name is Song Miqiu, is believed to be the mastermind behind several get-rich-quick schemes in China, Malaysia, Thailand and Indonesia.

The http://www.ysmwxb.com website of Wu Xin Bi – Zhang’s latest “coin” venture – is now inaccessible and over 5,000 Malaysians with RM17.5mil invested are now left in the lurch, reported Oriental Daily.

Sin Chew Daily reported that according to mainland Chinese media, Chinese police tracked Zhang down with help from their Indonesian counterparts and the Chinese Embassy in the country.

He was brought back to China yesterday.

Chinese police investigations revealed that Zhang had set up a trading company called Yun Shu Mao with other partners in November 2012 as a front for illegal multi-level marketing schemes, involving up to 600mil yuan (RM376.63mil).

Police in China’s Hunan province began investigating Zhang and his partners in December 2013, reported Sin Chew.

Zhang immediately fled the country but continued his illegal activities in South-East Asia.

He made headlines in the Malaysian media in 2014 when billboards of him appeared in Penang, proclaiming him to be the “future richest man in the world”.

He also awarded his lucky “distributors” with luxury cars.

The country’s Domestic Trade, Cooperatives and Consumerism Ministry then launched an investigation into Zhang’s company but he fled to Thailand.

On Oct 27, 2014, Thai police arrested Zhang, his wife Yoyo Wang Wen Fang, 29, and his right-hand man Geng Lian Bao over a pyramid scheme and seized assets worth 240mil baht (RM30mil).

After Zhang’s release in 2016, some supporters claimed that he remained in Thailand but his actual whereabouts then were a mystery.

Chinese police sent their officials to track him down several times and even issued an Interpol red alert on Zhang in March 2016.

They also sought cooperation from police in Thailand, Malaysia and Indonesia to investigate Zhang’s activities.

Recently, Zhang was seen making a comeback in Malaysia to promote Wu Xin Bi, a coin which he claimed had investment value on the Internet. – The Star

End of the road: Zhang being taken away by the police in China >>


 

Greed not paying for Zhang

The ‘future richest man in the world’ – the alleged mastermind behind several get-rich-quick schemes in the region – is set to face legal action in China.

ZHANG Jian, founder of money game scheme YSLM and the self proclaimed “future richest man in the world”, was arrested in Indonesia, finally.

Zhang has enjoyed a demigod status among his followers ever since he first started the business. He was uplifted as an ultra-smart man who went to the university at the age of nine and decoded bank passwords at 12. He was also said to be well versed in six languages.

But the question is whether he is no better than a master con man.

Zhang is well known in Malaysia, and the YSLM that made a landfall in this country three years ago almost turned the country upside down.

In the pretext of charity, he and his team made generous donations to local Chinese primary schools and independent high schools to win the hearts of the public and for their own publicity. He once offered RM350,000 to a single Chinese primary school in Negri Sembilan.

Zhang and his team recently brought a virtual currency called wuxingbi into Malaysia, and in the name of Zhang Jian Jewelry, continued with its donating spree that subsequently triggered the controversial question whether his donation should be accepted by independent Chinese high schools in the country.

After his release from a Phuket prison, Zhang went on with his usual tactic of bribing government officials and counterfeiting identification documents to move around South-East Asia. That nevertheless would not stop him from running his money game business by manipulating the wuxingbi scam through WeChat, smartphone and the Internet while staying largely out of the public eye.

His YSLM has sucked up 600mil yuan (RM380mil) of public funds in China, while his wuxingbi is actually another virtual coin scheme operating on a people-get-people model.

He knew how to command public attention, spending 30,000 yuan (RM18,834) each on young women to get them to shave their heads and act like nuns to promote wuxingbi at various functions and events. He even organised a “nun wedding party” in China.

He promised anyone purchasing a 5,000 yuan (RM3,139) wuxingbi to bag in 4mil yuan (RM2.5mil) of returns within a year. The unimaginable 800-fold returns were way higher than what recently collapsed money game schemes could think of offering their investors. Unfortunately, many have chosen to believe in him, especially in China.

Even as money games has become so rampant in this country, our enforcement authorities appear to be always a few steps behind in their actions.

Extensive coverage in Sin Chew Daily has doubtlessly killed the get-rich dreams of many avid investors. These scammers are never short of cash, and are always ready to hire well-known law firms to send us legal letters in an attempt to gag the media.

With Zhang now escorted back to China to face legal action, perhaps it is time for wuxingbi investors here to wake up. — Sin Chew Daily/Asia News Network

Source: The Star by Pook Ah Lek

Pook Ah Lek is Editorial Director with Sin Chew Daily. The views expressed here are entirely the writer’s own.

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